BlackLine $BL Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in BlackLine by 0.5%, now holding approximately 7.17 million shares worth $347 million.
• Several other institutional investors have adjusted their stakes, with notable increases including Asset Management One Co. by 67.6% and Bayforest Capital Ltd. by 282.6% during the first quarter.
• BlackLine reported earnings of $0.51 per share for the most recent quarter, exceeding analyst expectations, while its revenue grew by 7.2% compared to the same period last year.

Vanguard Group Inc. trimmed its position in shares of BlackLine (NASDAQ:BL - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,173,318 shares of the technology company's stock after selling 39,327 shares during the quarter. Vanguard Group Inc. owned approximately 11.37% of BlackLine worth $347,332,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BL. Topline Capital Management LLC purchased a new stake in shares of BlackLine during the fourth quarter worth approximately $60,572,000. Westwood Holdings Group Inc. boosted its stake in BlackLine by 106.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company's stock worth $57,443,000 after buying an additional 611,499 shares during the last quarter. Raymond James Financial Inc. acquired a new position in BlackLine during the fourth quarter worth $23,770,000. Balyasny Asset Management L.P. boosted its stake in BlackLine by 365.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 405,801 shares of the technology company's stock worth $24,656,000 after buying an additional 318,647 shares during the last quarter. Finally, Ananym Capital Management LP acquired a new position in BlackLine during the fourth quarter worth $17,497,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BlackLine

In other news, CAO Michelle D. Stalick sold 795 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the transaction, the chief accounting officer owned 25,235 shares in the company, valued at approximately $1,391,457.90. This represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Mark Woodhams sold 1,856 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the transaction, the executive owned 61,390 shares in the company, valued at approximately $3,354,963.50. The trade was a 2.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

BlackLine Trading Up 0.7%

BL traded up $0.38 during mid-day trading on Tuesday, hitting $51.86. 625,323 shares of the stock were exchanged, compared to its average volume of 757,202. The firm's fifty day moving average is $54.80 and its two-hundred day moving average is $52.32. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61. The company has a market cap of $3.21 billion, a PE ratio of 40.20, a PEG ratio of 8.34 and a beta of 0.91.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The company had revenue of $172.03 million for the quarter, compared to the consensus estimate of $170.87 million. During the same quarter in the prior year, the business earned $0.58 EPS. BlackLine's revenue was up 7.2% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. Equities analysts forecast that BlackLine will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BL. DA Davidson reissued a "neutral" rating and set a $56.00 price objective on shares of BlackLine in a research note on Wednesday, August 6th. Citigroup reissued a "buy" rating and set a $67.00 price objective (up previously from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. Wall Street Zen lowered BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Raymond James Financial raised BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price objective on the stock in a research note on Tuesday, July 29th. Finally, Piper Sandler upped their price target on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $61.08.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.